MIRA INFORM REPORT
|
Report No. : |
342154 |
|
Report Date : |
26.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
LUK INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
P B No. 20, Royakottah Road, Hosur, Dharmpuri, Hosur - 635109,
Tamilnadu |
|
Tel. No.: |
91-4344-221265 |
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|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.12.2014 |
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|
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Date of
Incorporation : |
22.03.1995 |
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|
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Com. Reg. No.: |
18-010015 |
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Capital
Investment / Paid-up Capital : |
Rs. 225.000 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U29199TZ1995PTC010015 |
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|
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IEC No.: |
Not Available |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEL03003A |
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|
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PAN No.: [Permanent Account No.] |
AAACL6817D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged of Manufacturing and Trading in clutches and trading in bearings. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5407000 |
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Status : |
Satisfactory |
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Payment Behavior : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of “Luk Vermogensverwaltungsgeselsahaft mbH. Germany.” It was incorporated in the
year 1995 and has satisfactory track. Rating takes into consideration sound financial risk profile of the
company marked by strong networth base and comfortable gearing in FY14. Management has reported almost stable revenue base, whereas reported a
decent increase in its net profit along with fair profit margin in the year
under consideration. Overall financial condition of the company appears to be decent. Trade relations are fair.
Business is active. Payment terms are reported to be usually correct. In view for strong support from the holding company, the subject can
be considered for business dealing with usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DEINED
MANAGEMENT NON-COOPERATIVE
Contact No: 91-4344-222240
LOCATIONS
|
Registered Office : |
P B No. 20, Royakottah Road, Hosur, Dharmpuri, Hosur - 635109,
Tamilnadu, India |
|
Tel. No.: |
91-4344-222313 / 22165 / 221580 |
|
Mobile No.: |
91-4344-222296 |
|
Fax No.: |
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|
Factory : |
Located At · Hosur, Tamilnadu, India |
DIRECTORS
AS ON 30.06.2014
|
Name : |
Mr. Satish Chunibhai Patel |
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|
Designation : |
Director |
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|
Address : |
12, Vicenza Highlands, B/H Fgi Business Centre, Gotri - Sevasi Road, Vadodara - 391101, Gujarat, India |
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Date of Appointment : |
26.06.2015 |
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DIN No.: |
00690869 |
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Other directorship:
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|
Name : |
Mr. Dharmesh Subhash Chandra Arora |
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|
Designation : |
Managing Director |
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|
Address : |
D-402, Amar Renaissance, Sopan Baug, Ghorpadi Gaon, Pune - 411001, Maharashtra, India |
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Date of Appointment : |
26.06.2015 |
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DIN No.: |
05350121 |
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Other Directorship:
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Name : |
Mr. Stefan Peter Hermann Bauerreis |
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|
Designation : |
Director |
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|
Address : |
Zum Kopfwasen 19 D, Herzogenaurach - 91074, Germany |
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|
Date of Appointment : |
26.06.2015 |
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DIN No.: |
07023516 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Satyanaryan mohanty |
|
Designation : |
Company Secretary |
|
Address : |
103/25, Konappana Agrahara, E City, Bangalore – 560100, Karnataka,
India |
|
Date of Birth/Age : |
05.06.1979 |
|
PAN No : |
ATOPM7349H |
|
Date of Appointment : |
30.09.2008 |
MAJOR SHAREHOLDERS
AS ON 30.06.2014
|
Names of Shareholders |
|
No. of Shares |
|
Luk Vermogensverwaltungsgesellschaft Mbh, Germany |
|
22499999 |
|
Industrie Auf, Baugesellachaft, Germany |
|
1 |
|
Total |
|
22500000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.06.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companies (s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged of Manufacturing and Trading in clutches and trading in bearings. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
Maruti Info Tec Centre, 11-12-1, Inner Ring Road, Koramangala, Bangalore – 560071, Karnataka, India |
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PAN. No.: |
AAAFB9852F |
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|
|
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Memberships : |
----- |
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|
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Collaborators : |
----- |
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Ultimate Holding Company : |
INA Holding GmbH and Company KG, Germany |
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|
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Holding Company : |
Luk Vermogensverwaltungsgesellschaft mbH, Germany |
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Fellow subsidiaries
and companies under common control and associate companies. |
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CAPITAL STRUCTURE
AS ON.30.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22500000 |
Equity Shares |
Rs.10/- each |
Rs. 225.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22500000 |
Equity Shares |
Rs.10/- each |
Rs. 225.000 Million |
FINANCIAL DATA
[All figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
225.000 |
225.000 |
225.000 |
|
(b) Reserves & Surplus |
1667.795 |
1538.899 |
1475.576 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
1892.795 |
1763.899 |
1700.576 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
581.780 |
861.156 |
324.559 |
|
(b) Deferred tax
liabilities (Net) |
31.974 |
22.884 |
6.849 |
|
(c) Other long term
liabilities |
14.989 |
16.887 |
15.638 |
|
(d) long-term provisions |
56.057 |
61.297 |
82.588 |
|
Total Non-current
Liabilities (3) |
684.800 |
962.224 |
429.634 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
44.870 |
0.000 |
350.000 |
|
(b) Trade payables |
877.005 |
849.868 |
781.540 |
|
(c) Other current
liabilities |
897.974 |
542.826 |
660.719 |
|
(d) Short-term provisions |
16.796 |
21.413 |
25.867 |
|
Total Current Liabilities
(4) |
1836.645 |
1414.107 |
1818.126 |
|
|
|
|
|
|
TOTAL |
4414.240 |
4140.230 |
3948.336 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1722.426 |
1640.075 |
1413.755 |
|
(ii) Intangible Assets |
2.779 |
2.413 |
0.920 |
|
(iii) Capital
work-in-progress |
53.533 |
39.989 |
272.429 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.003 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
98.185 |
73.697 |
64.303 |
|
(e) Other Non-current
assets |
5.135 |
1.732 |
0.200 |
|
Total Non-Current Assets |
1882.058 |
1757.906 |
1751.610 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1043.235 |
842.760 |
794.450 |
|
(c) Trade receivables |
1039.114 |
1272.758 |
971.997 |
|
(d) Cash and cash
equivalents |
272.331 |
182.762 |
338.294 |
|
(e) Short-term loans and
advances |
176.485 |
82.993 |
91.474 |
|
(f) Other current assets |
1.017 |
1.051 |
0.511 |
|
Total Current Assets |
2532.182 |
2382.324 |
2196.726 |
|
|
|
|
|
|
TOTAL |
4414.240 |
4140.230 |
3948.336 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
|
|
|
|
|
|
TOTAL INCOME |
5936.520 |
5690.730 |
4871.874 |
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
5453.150 |
5334.580 |
4581.465 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
483.370 |
356.150 |
290.409 |
|
|
|
|
|
|
|
Less |
INTEREST |
89.010 |
64.540 |
31.995 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
394.360 |
291.610 |
258.414 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
201.160 |
181.380 |
106.890 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
193.200 |
110.230 |
151.524 |
|
|
|
|
|
|
|
Less |
TAX |
64.300 |
46.910 |
54.255 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
128.900 |
63.320 |
97.269 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
1424.600 |
1361.276 |
1264.007 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
1553.500 |
1424.596 |
1361.276 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
335.560 |
264.980 |
NA |
|
|
TOTAL EARNINGS |
335.560 |
264.980 |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw materials, Components,
Products purchased for Sale, Stores and Spares, Capital goods and intangible
assets |
1341.740 |
1159.970 |
NA |
|
|
TOTAL IMPORTS |
1341.740 |
1159.970 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
5.73 |
2.81 |
4.32 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Current Maturities of Long term debt |
508.171 |
105.706 |
93.517 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
512.802 |
152.600 |
0.000 |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
2.17
|
1.11 |
1.99 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
8.14
|
6.25 |
5.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.43 |
2.69 |
4.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.06 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.60 |
0.55 |
0.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38 |
1.68 |
1.21 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
225.000 |
225.000 |
225.000 |
|
Reserves & Surplus |
1475.576 |
1538.899 |
1667.795 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1700.576 |
1763.899 |
1892.795 |
|
|
|
|
|
|
long-term borrowings |
324.559 |
861.156 |
581.780 |
|
Short term borrowings |
350.000 |
0.000 |
44.870 |
|
Current maturities of
long-term debts |
93.517 |
105.706 |
508.171 |
|
Total borrowings |
768.076 |
966.862 |
1134.821 |
|
Debt/Equity ratio |
0.452 |
0.548 |
0.600 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
4871.874 |
5690.730 |
5936.520 |
|
|
|
16.808 |
4.319 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
4871.874 |
5690.730 |
5936.520 |
|
Profit |
97.269 |
63.320 |
128.900 |
|
|
2.00% |
1.11% |
2.17% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-------------- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.12.2014 (Rs.
in Million) |
31.12.2013 (Rs.
in Million) |
|
Long-term Borrowing |
|
|
|
Loans and advances from others |
381.780 |
261.156 |
|
Total |
381.780 |
261.156 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10357048 |
09/05/2015 * |
400,000,000.00 |
FAG BEARINGS INDIA
LIMITED |
NARIMAN BHAVAN, 8TH FLOOR, 227 BACKBAY
RECLAMATI |
C59554808 |
* Date of charge modification
FINANCIAL HIGHLIGHTS
The year 2014 was a moderate period for the Company. During the year your Company has achieved net revenue of Rs. 5936.520 Million. Growth of 4% in net sales as compared to the previous year 2013. But the profit for the year has significantly grown by 104 % to Rs.128.900 Million as compared to the previous year's profit of Rs. 63.320 Million. The growth in profit is mainly attributable to optimization of direct material costs specifically in steel and castings commodities, and significant reduction of overheads.
AWARDS / RECOGNITIONS
During the year your Company has received the following Awards from renowned Customers:
Best Supplier Award (Quality Excellence): From General Motors India
Best Supplier Award: From Ashok Leyland
John Deere Excellence Award, partner level supplier: From John Deere
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report : No press reports / filings exists on the
subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 66.09 |
|
|
1 |
Rs. 100.88 |
|
Euro |
1 |
Rs. 73.95 |
INFORMATION DETAILS
|
Information Gathered
by : |
KMN |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
SANS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
----- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavorable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.